Altice USA Announces Successful Pricing of New Term Loan

NEW YORK–(BUSINESS WIRE)–Altice USA, Inc. (NYSE: ATUS) (“Altice USA”), today announces
that its wholly owned subsidiary CSC Holdings, LLC (“CSC”)
successfully priced a new $1 billion 8.25-year Senior Secured Term Loan
B maturing on April 15, 2027 (the “Senior Secured Term Loan B”),
the proceeds of which are expected to be used to redeem $894.7 million
in aggregate principal amount of CSC’s 10.125% Senior Notes due 2023,
representing the entire aggregate principal amount outstanding, and
paying related fees, costs and expenses with the remainder being used to
fund cash on balance sheet. The new Senior Secured Term Loan B will have
a margin of 300bps over Libor and was issued with an original issue
discount of 100bps. Altice USA expects total annual interest cost
savings of approximately $40 million resulting from this refinancing
activity with the average cost of debt reducing from 6.2% to 6.0%. The
weighted average life of Altice USA’s debt has been extended from 6.7 to
6.9 years as of September 30, 2018.

This press release is for informational purposes only and shall not
constitute an offer to sell, or a solicitation of an offer to buy, any
security. No offer, solicitation, or sale will be made in any
jurisdiction in which such an offer, solicitation, or sale would be

Forward-Looking Statements

This press release contains statements about future events, projections,
forecasts and expectations that are forward-looking statements. Any
statement in this press release that is not a statement of historical
fact is a forward-looking statement that involves known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. In addition, past performance of the Issuer
and its respective affiliates cannot be relied on as a guide to future
performance. The Issuer and its respective affiliates make no
representation on the accuracy and completeness of any of the
forward-looking statements, and, except as may be required by applicable
law, assume no obligations to supplement, amend, update or revise any
such statements or any opinion expressed to reflect actual results,
changes in assumptions or in the Issuer’s or it’s respective affiliates’
expectations, or changes in factors affecting these statements.
Accordingly, any reliance you place on such forward-looking statements
will be at your sole risk.

About Altice USA

Altice USA (NYSE: ATUS) is one of the largest broadband communications
and video services providers in the United States, delivering broadband,
pay television, telephony services, proprietary content and advertising
services to approximately 4.9 million Residential and Business customers
across 21 states through its Optimum and Suddenlink brands.


Nick Brown, +1 917 589 9983
Head of Investor Relations

Anselmo, +1 929 418 4362
Head of Communications

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